Turkey’s Kardemir hiked its rebar price to TRY 19,550/mt ($596/mt), excluding VAT, earlier today, July 10. Its new rebar price indicates an increase of TRY 95/mt ($6/mt) as compared to Wednesday, June 26, amid the ongoing currency fluctuations. The producer closed its rebar sales after a couple of hours. Approximately 20,000-23,000 mt of rebar have been traded given Kardemir’s advantageous payment terms, SteelOrbis has heard.
According to sources, the official rebar prices in the Marmara and Izmir regions vary at $585-605/mt ex-works.
Kardemir sold its rebar at yesterday’s Turkish Central Bank-based exchange rate of $1 = TRY 32.79.